Fiscal Failure

Despite all the talk about cutting spending and getting the U.S. federal government's fiscal house in order, conservatives have failed to establish any policy victories. Our debt is still growing. Yet, the slight reductions they have achieved in spending growth rates threaten to put millions out of work, highlighting the devastating economic quandary of either option.
U.S. Congressional Republicans have put up a fight against the runaway spending. But, they did not win the battle. Fearing that they would be blamed for a government shutdown, Republicans caved in summer of 2011 and agreed to a deal crafted by the Democrats that established a special committee to cut the budget. In case the group failed, the plan also included an across the board $1.2 trillion automatic budget cut over 10 years in discretionary defense and non-defense spending. Well, guess what? The group failed and the cuts are set to begin in January 2013.
While this sounds good at first, it is...(Read Full Post)